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Exxon awards multi-million-dollar contract to DOF Subsea for work in Stabroek Block

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DOF Subsea has been awarded a NOK$2.7 billion (US$256.1 million) contract by ExxonMobil to execute works in Guyana’s offshore Stabroek Block where 11 billion barrels of oil-equivalent have already been discovered. DOF Subsea said the contract will last three years...
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Guyana to add 757 kW of solar energy in hinterland areas by year end

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By the end of this year, the Guyana Energy Agency (GEA) is expected to complete installations, adding up to 757 kilowatts (kW) of solar capacity in hinterland communities. The project forms part of the government’s aggressive push to expand renewable...
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US$5.4 billion mega port for Suriname; to feature LNG facility, shorebase and economic zone

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Phoenix Development Company and Suriname’s Port Management Company, N.V. Havenbeheer, have teamed up to build a mega Deep-Water Port and Special Economic Zone – Port of Nickerie – in Suriname, with projected investment of approximately US$5.4 billion. With several oil...
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Government halts Ramps’ local content application pending outcome of criminal charges

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Head of the Local Content Secretariat, Martin Pertab, by way of an affidavit filed in court, revealed that the review of an application by Ramps Logistics Guyana for a Local Content Certificate has been halted. Pertab said this decision is...
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Noble Discoverer set to arrive in Guyana this weekend to drill CGX’s Wei-1 well

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CGX Resources Inc.’s Wei-1 well is expected to be spud later this month when the Noble Discoverer semi-submersible drilling rig arrives in Guyana on October 22. After the completion of a merger of Noble Corp. and Maersk Drilling on October...
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US$493M payout from Guyana’s third quarter oil sales, royalties gazetted

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In keeping with a transparency mandate outlined in the Natural Resource Fund Act 2021, the government of Guyana has published in its official gazette, the receipts of funds into the Natural Resource Fund. According to the data, the government received...
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Gov’t to identify legal, financial team to support catering consortium for oil sector market

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As the Ministry of Natural Resources reconvened with major Guyanese caterers from across the country, Minister of Natural Resources Vickram Bharrat has committed to identifying a team to support the birth of the caterer consortium. During the second meeting Bharrat...
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TechnipFMC, Stena Drilling among 11 more companies to have local content master plans approved

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Eleven major oil and gas support service providers including TechnipFMC and Stena Drilling received the stamp of approval from the Local Content Secretariat for their five-year Master Plans. On October 19, the Minister of Natural Resources, Vickram Bharrat, met with...
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Ramps CEO enters not guilty plea to company’s false declarations charges, out on GY$500,000 bail

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Chief Executive Officer (CEO) of Ramps Logistics, Shaun Rampersad on Friday paid bail of GY$500,000 to the Supreme Court, and in so doing, avoided custody for charges of false declarations to the Guyana Revenue Authority (GRA) for its duty-free...
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Western Logistics to hire 1000 Guyanese as part of new approved five-year Master Plan

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With its five-year Local Content Master Plan approved by the Ministry of Natural Resources, Western Logistics Guyana aims to expand its human resource capacity by some 1,000 Guyanese. According to its Operations Director, Pradeep Ramoutar, the locally owned and operated...
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Hammerhead gas to flow through pipeline as soon as project starts

Gas from ExxonMobil’s newly sanctioned Hammerhead development will begin flowing immediately through Guyana’s Gas-to-Energy (GtE) pipeline once production starts...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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